Taxpayers Still Footing The Bill For Construction Of The Vet

PHILADELPHIA (CBS) – Veterans Stadium is now a distant memory, but it’s debt service is still very much a reality. Taxpayers are still paying for the cost of construction for the stadium that was demolished nine years ago.

The original price tag for the 30-year bond that was issued in 1964 for construction of the multipurpose stadium that opened in South Philly in 1971 was $25-million dollars, but the city refinanced several times over the years, falling nearly 20 years behind schedule as a result.